Arthur wishes to have 80,000 in her bank account. How much suould she deposit in a bank account that pays 8% compounded quarterly so that after 6 years and 5 months, she can have her desired money? Choices are: 31, 889.75416 48, 110.24584 and 50,000

Arthur wishes to have 80,000 in her bank account. How much suould she deposit in a bank account that pays 8% compounded quarterly so that after 6 years and 5 months, she can have her desired money? Choices are: 31, 889.75416 48, 110.24584 and 50,000

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 13E

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Arthur wishes to have 80,000 in her bank account. How much suould she deposit in a bank account that pays 8% compounded quarterly so that after 6 years and 5 months, she can have her desired money?

Choices are: 31, 889.75416
48, 110.24584 and 50,000

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